Gold, Silver, Platinum Forecasts – Gold Pulls Back Ahead Of Fed Decision

Key Insights

• Gold is trying to settle below the support at $1975.
• Silver is losing ground as gold/silver ratio continues to move higher. 
• Platinum pulls back on profit-taking. 

Gold

Gold is losing ground ahead of the Fed decision as traders focus on stronger dollar.

In case gold settles below the support at $1975 – $1985, it will move towards the next support level at $1940 – $1950.

Silver

Silver pulled back as gold/silver ratio settled above the 87 level and continued to move higher.

RSI remains in the moderate territory, so silver has a good opportunity to gain downside momentum in case it settles below the $22.25 level.

Platinum

Platinum is moving lower amid a broad pullback in precious metals markets. Profit-taking serves as an additional bearish catalyst for platinum.

If platinum settles back below the support at $925, it will head towards the $900 level.

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